How Can You Get a Free Fuel Credit Card? Let's Check
Fuel credit cards are a type of credit card that offers rewards or discounts on fuel purchases. They work by giving cardholders a certain percentage of cash back or points for every dollar spent on gas, diesel, or other types of fuel. Some fuel credit cards also offer benefits such as roadside assistance, travel insurance, or car rental discounts. To get a fuel credit card for free, one needs to have a good credit score and apply for a card that has no annual fee. Some cards may also waive the first-year fee or offer a sign-up bonus. However, one should also consider the interest rate, the redemption options, and the terms and conditions of the card before applying.
HDFC BANK MONEYBACK CREDIT CARD:
The HDFC Bank MoneyBack Credit Card is a decent option for everyday spenders who want a simple and affordable way to earn cashback, especially on online purchases. It's ideal for new credit card users or those looking for a no-frills rewards card. However, if you travel frequently or desire premium benefits, consider cards offering additional perks like airport lounge access or travel insurance.
Joining Fees: INR 500 (Reduced to INR 0 If, an HDFC Current/Savings Account is present/opened within 3 months of the Card approval)
Interest Rate: 3.6% per month (43.2% per annum).
Fuel Surcharge: 1% Fuel Surcharge waiver on fuel transactions (Minimum transaction of ₹400, Maximum transaction of ₹5,000 & Maximum waiver of ₹250 per statement cycle).
Special Feature: The card has no annual fee, making it a good option for those who want to avoid recurring charges.
IndianOil HDFC BANK CREDIT CARD:
The IndianOil HDFC Bank Credit Card is a co-branded card that offers benefits on fuel purchases and other spending categories. The cardholders can earn up to 5% fuel surcharge waiver at IndianOil outlets, up to 5% cashback on fuel spends, and up to 50 reward points per Rs. 150 spent on groceries, dining, and bill payments. The card also comes with a zero annual fee for the first year and a low renewal fee of Rs. 500 from the second year onwards.
Joining Fees: INR 500 (Reduced to INR 0, On completing 2 transactions in a month for first 3 consecutive months or on spending INR 20,000 in 90 days).
Interest Rate: 3.6% per month i.e. 43.2% annually.
Fuel Surcharge: 1% fuel surcharge waiver at all fuel stations across India (on minimum transaction of ₹400. Max Cashback of ₹250 per statement cycle).
Special Feature: Customers can earn up to 50 Litres of Free fuel annually.
UNI CARBON CARD:
The Union Uni Carbon Credit Card is a co-branded fuel card offered by Union Bank of India in partnership with HPCL. It primarily targets drivers who frequently fill up at HPCL pumps. The Union Uni Carbon Credit Card is a decent option for drivers who primarily fill up at HPCL pumps. The generous fuel rewards and annual fee waiver can help you save money on fuel expenses. However, if you're looking for a well-rounded credit card with broader benefits beyond fuel, you might be better off considering other options.
Joining Fees: (one time)- INR 499.
Annual Fees: INR 499/- (Waiver of annual fee on spending worth Rs. 1,00,000 or more annually).
Interest Rate: 16% p.a.
Fuel Surcharge: 1% fuel surcharge waiver on transaction value of Rs.200 and above at HPCL authorized outlets with a cap of Rs.100 per billing cycle per card.
Special Feature: Accidental insurance coverage Up to Rs. 10.00 lakh.
IDFC FIRST BANK POWER HPCL CARD:
One of the Best Fuel Cards, The IDFC FIRST Power Credit Card, co-branded with HPCL, is a fuel-focused card that caters to frequent drivers at HPCL pumps. While it won't offer the glitzy travel perks or dining discounts of some premium cards, it excels in one area: saving you money on fuel. The IDFC FIRST Power Credit Card is a fantastic option for drivers who primarily fill up at HPCL pumps. The generous fuel rewards and welcome bonus can significantly reduce your fuel expenses. Along with that the card is life time free credit card with zero joining and annual fees. Other than fuel benefits the card also provide rewards on LPG gas cylinder bookings.
Joining and Annual Fees: INR 0
Interest Rate: 0.75% - 3.5% Annual Interest Rate - 9% - 42%
Fuel Surcharge: 1%, however it is waived upto INR 100 per month.
Special Feature: 15X reward points on fuel and LPG: Earn an impressive 15X reward points on fuel and LPG purchases at HPCL outlets.
HSBC CASHBACK CREDIT CARD:
The HSBC Cashback Credit Card is not a fuel credit card but it is a great alternative for those seeking basic cashback rewards, particularly on groceries, dining, and fuel. Its no-fuel surcharge feature makes it a standout benefit for drivers. However, if you desire a card with broader reward categories, additional perks, or travel benefits, you might want to consider alternatives.
Joining Fees: INR 0
Interest Rate: 3.49% per month (41.88% annually).
Fuel Surcharge: Does not charge any Fuel Surcharge from the customers.
Special Feature: No fuel surcharge and
Conclusion:
Fuel credit cards are a convenient way to save money on gas and other expenses. However, not all fuel credit cards are created equal. Some may charge high fees, have low rewards, or limit the choice of gas stations. To select the best fuel credit card, one should consider the following factors:
The annual fee: Some fuel credit cards may waive the annual fee for the first year or if certain spending thresholds are met. This can reduce the cost of owning the card and increase the net rewards.
The rewards rate: The rewards rate is the percentage of cash back or points earned on gas purchases and other categories. The higher the rewards rate, the more savings one can enjoy. Some fuel credit cards may offer bonus rewards for specific gas stations, grocery stores, or travel expenses.
The redemption options: The redemption options are the ways one can use the rewards earned from the fuel credit card. Some may allow cash back, statement credits, gift cards, or travel bookings. One should choose a fuel credit card that offers flexible and valuable redemption options that suit their needs and preferences.
The compatibility: The compatibility is the availability and acceptance of the fuel credit card at different gas stations and merchants. Some fuel credit cards may be affiliated with specific gas brands or networks, which may limit the choice and convenience of the cardholder. One should choose a fuel credit card that is widely accepted and compatible with their preferred gas stations.
FAQs:
1. What is a fuel surcharge, and why do some credit cards charge it?
A fuel surcharge is an additional fee added to your credit card transaction when you buy fuel. It typically ranges from 1% to 3% of the purchase amount and compensates the credit card company for processing costs associated with gas stations.
2. How do fuel credit cards help save money on gas?
Fuel credit cards offer various ways to save money on gas, including:
· Cashback: Earn a percentage of your fuel purchases back as cashback.
· Fuel surcharge waiver: Certain cards waive the fuel surcharge fee, saving you directly at the pump.
· Points rewards: Earn points on gas purchases that can be redeemed for various rewards, including cashback, merchandise, or travel.
· Discounts: Some cards offer exclusive discounts at specific gas stations.
3. What are some popular fuel credit cards in India?
· SBI BP Credit Card
· Axis Bank Club Miles Platinum Credit Card
4. Can I use a fuel credit card for LPG refills?
Yes, you can use a fuel credit card for LPG refills at authorized LPG dealerships. The card will be treated like a regular credit card, and you might earn cashback or points on the purchase.
5. Are there any LPG-specific credit cards?
While there are no dedicated LPG credit cards in India, some co-branded fuel cards like the BPCL SBI Card Plus offer special benefits for LPG refills. They might provide higher reward points or discounts on LPG purchases.
6. Is it worth getting a fuel credit card if I don't drive frequently?
It depends. If you rarely fill up your tank, the annual fee and limited perks might outweigh the benefits. However, if you even occasionally purchase fuel, a fuel card with a no-annual-fee option can still offer some savings through cashback or point rewards.
7. What are the potential downsides of using fuel credit cards?
· Annual fees: Some fuel cards have annual fees, which can negate the savings if you don't spend enough on gas.
· Reward limitations: Cashback rates or point earning might be capped, limiting your overall benefits.
· Interest charges: Be mindful of carrying a balance on your fuel card, as high interest rates can quickly offset any savings.
8. How do I choose the best fuel credit card for me?
Consider your specific needs and driving habits. Compare annual fees, reward rates, fuel surcharge waivers, and any additional perks like discounts or travel benefits. Choose a card that aligns with your spending patterns and offers the most value for your money.
9. Can I use a fuel credit card for online fuel purchases?
This varies depending on the card and the online platform. Some fuel delivery services or online payment options might not accept credit cards for fuel purchases. Check the terms and conditions of your card and the online platform before attempting to use your fuel credit card.
10. Is it safe to use my credit card for fuel purchases?
Generally, yes. Secure chip-and-pin technology at most gas stations provides good protection against fraud. However, practice safe card handling, monitor your statements for unauthorized transactions, and consider setting up fraud alerts for added security.